Oil Prices in December 1988: WTI & Brent Daily Prices and Monthly Average
WTI's monthly average rose to $16.38 in December 1988, up $2.24 (15.8%) from November 1988. A year earlier, in December 1987, it averaged $17.28, so the price was lower by $0.90 (5.2%) year over year.
Daily spot prices, December 1988
Chart data table (21 rows; WTI on 21, Brent on 21)
| Period | WTI | Brent |
|---|---|---|
| Dec 30, 1988 | $17.12 | $16.23 |
| Dec 29, 1988 | $16.81 | $15.90 |
| Dec 28, 1988 | $17.03 | $16.10 |
| Dec 27, 1988 | $16.98 | $16.25 |
| Dec 23, 1988 | $16.63 | $15.38 |
| Dec 22, 1988 | $17.36 | $15.25 |
| Dec 21, 1988 | $17.27 | $15.33 |
| Dec 20, 1988 | $17.68 | $15.28 |
| Dec 19, 1988 | $16.24 | $15.30 |
| Dec 16, 1988 | $16.81 | $15.60 |
| Dec 15, 1988 | $16.39 | $15.58 |
| Dec 14, 1988 | $16.33 | $15.35 |
| Dec 13, 1988 | $15.93 | $15.18 |
| Dec 12, 1988 | $16.08 | $15.20 |
| Dec 9, 1988 | $15.90 | $14.90 |
| Dec 8, 1988 | $15.48 | $15.05 |
| Dec 7, 1988 | $15.80 | $14.70 |
| Dec 6, 1988 | $15.51 | $14.40 |
| Dec 5, 1988 | $15.36 | $14.73 |
| Dec 2, 1988 | $15.69 | $14.80 |
| Dec 1, 1988 | $15.63 | $14.93 |
Prices rose over the month, from $15.63 on Dec 1, 1988 to $17.12 on Dec 30, 1988, with gains on 14 of 21 trading days. The largest one-day move was +$1.44 on Dec 20, 1988 (+8.9%).
Brent averaged $15.31, on matched dates $1.08 below WTI on average across 21 dates.
Among the 40 December averages EIA has published, 1988's ranks 4th lowest. Within 1988 it ranks 6th highest of the 12 monthly averages. The high was $17.68 on Dec 20, 1988 and the low $15.36 on Dec 5, 1988. WTI moved 5% or more from the previous published price on 1 day. In October 2026 dollars (CPI-U), the average equals $45.88 and the high of $17.68 equals $49.52.
December 1988 summary
| Measure | WTI | Brent |
|---|---|---|
| Monthly average | $16.38 | $15.31 |
| Change vs November 1988 | +$2.24 | +$2.29 |
| Change vs December 1987 | −$0.90 | −$1.74 |
| Highest daily price | $17.68 Dec 20, 1988 | $16.25 Dec 27, 1988 |
| Lowest daily price | $15.36 Dec 5, 1988 | $14.40 Dec 6, 1988 |
| Published daily observations | 21 | 21 |
| Average in October 2026 dollars (CPI-U) | $45.88 | $42.88 |
Monthly averages are EIA's published figures. Real figures use CPI-U for December 1988.
December in other years
| Year | WTI average | vs December 1988 | Real |
|---|---|---|---|
| 2025 | $57.97 | +253.9% | $60.38 |
| 2024 | $70.12 | +328.1% | $74.99 |
| 2023 | $71.90 | +338.9% | $79.11 |
| 2022 | $76.44 | +366.7% | $86.93 |
| 2021 | $71.71 | +337.8% | $86.81 |
| 2020 | $47.02 | +187.1% | $60.93 |
| 2019 | $59.88 | +265.6% | $78.65 |
| 2018 | $49.52 | +202.3% | $66.53 |
| 2017 | $57.88 | +253.4% | $79.24 |
| 2016 | $51.97 | +217.3% | $72.65 |
| 2015 | $37.19 | +127.0% | $53.07 |
| 2014 | $59.29 | +262.0% | $85.22 |
| 2013 | $97.63 | +496.0% | $141.39 |
| 2012 | $87.86 | +436.4% | $129.15 |
| 2011 | $98.56 | +501.7% | $147.40 |
| 2010 | $89.15 | +444.3% | $137.28 |
| 2009 | $74.47 | +354.6% | $116.39 |
| 2008 | $41.12 | +151.0% | $66.02 |
| 2007 | $91.69 | +459.8% | $147.34 |
| 2006 | $61.96 | +278.3% | $103.63 |
| 2005 | $59.41 | +262.7% | $101.89 |
| 2004 | $43.15 | +163.4% | $76.53 |
| 2003 | $32.13 | +96.2% | $58.84 |
| 2002 | $29.46 | +79.9% | $54.96 |
| 2001 | $19.39 | +18.4% | $37.04 |
| 2000 | $28.44 | +73.6% | $55.17 |
| 1999 | $26.10 | +59.3% | $52.34 |
| 1998 | $11.35 | −30.7% | $23.37 |
| 1997 | $18.33 | +11.9% | $38.35 |
| 1996 | $25.23 | +54.0% | $53.69 |
| 1995 | $19.03 | +16.2% | $41.84 |
| 1994 | $17.16 | +4.8% | $38.69 |
| 1993 | $14.52 | −11.4% | $33.61 |
| 1992 | $19.41 | +18.5% | $46.17 |
| 1991 | $19.50 | +19.0% | $47.73 |
| 1990 | $27.28 | +66.5% | $68.81 |
| 1989 | $21.10 | +28.8% | $56.47 |
| 1988 | $16.38 | — | $45.88 |
| 1987 | $17.28 | +5.5% | $50.54 |
| 1986 | $16.11 | −1.6% | $49.21 |
“—” in the real column means BLS has published no CPI-U for that month. The comparison column shows how far that year's average was from December 1988.
Source and methodology
| Provider | Series | Units | Coverage | Latest observation |
|---|---|---|---|---|
| U.S. Energy Information Administration | RWTC — WTI spot price FOB (daily, monthly) | $/bbl | Dec 1, 1988 – Dec 30, 1988 | Dec 30, 1988 |
| U.S. Energy Information Administration | RBRTE — Brent spot price FOB (daily, monthly) | $/bbl | Dec 1, 1988 – Dec 30, 1988 | Dec 30, 1988 |
| U.S. Bureau of Labor Statistics | CUUR0000SA0 — CPI-U, all items, NSA | index, 1982–84=100 | monthly | October 2026 |
Last updated: Nov 10, 2026, 7:01 PM CST. Raw values are shown in source units; any conversion is labeled. See methodology and data sources.
Download:1988 daily prices (CSV)